The factual, not only formal capacity of local governments to appeal to borrowed resources is, considering the current conditions, a prerequisite for ensuring economic and social development of local communities. In this paper we intend to position the main theoretical and empirical evidences on...

The central researched element in our paper is the local budgets, the basic component of local public finances. Local budgets, like any other budgets, are the most important tool for the management (of local governments) planning, forecasting, implementing and monitoring the results of...